China is at a crucial stage of overcoming the middle-income trap, with the factors that drive economic growth having undergone significant changes, and domestic consumption playing a more important role in economic gr...China is at a crucial stage of overcoming the middle-income trap, with the factors that drive economic growth having undergone significant changes, and domestic consumption playing a more important role in economic growth. It is necessary, at this point, to promote mass consumption by expanding the middle-income group. The present paper puts forward the concept of the ＂double middle-income traps.＂ This refers to the situation in which an economy＇s per capita output stagnates and the size of the middle- income group is unable to expand for an extended period of time. These two factors are closely related. Based on data from the Chinese Social Survey conducted by the Institute of Sociology at the Chinese Academy of Social Sciences, the present paper analyzes the scale and development of middle-income groups, and the relationship among middle- income groups, the middle-class and middle-class identity. The marginal consumption propensities of middle-income groups are also considered. The findings of the paper indicate that the expansion of the middle-income group plays an important role in promoting mass consumption, maintaining continuous and stable economic growth, and overcoming the double middle-income traps.展开更多
The internal consumption and production structure of the service industry that now dominates the Chinese economy needs to be optimized.Introducing supply-side structural reform to improve the in-depth integration of a...The internal consumption and production structure of the service industry that now dominates the Chinese economy needs to be optimized.Introducing supply-side structural reform to improve the in-depth integration of advanced manufacturing and the modern service industry and promoting a strong domestic market is the key to escaping the middle income trap.We use 1950-2010 data from 45 non-oil-exporting economies representing the structural evolution of the service industry worldwide to compare Asian economies that have passed through the middle income trap with Latin American counterparts that remain stuck in the trap,and thence proceed to construct a matched model that covers the consumption and production service industries and their supply of human capital,with the aim of identifying the formative mechanisms and conditions for escaping the middle income trap through upgrading the structure of the service industry.Substantially developing the production service sector,raising the supply of public services so as to cultivate the quantity and quality of human capital,and matching senior-level human capital with knowledge-intensive serviceindustries will propel the upgrading and transformation of China’s economic structure toward high-quality development.展开更多
文摘China is at a crucial stage of overcoming the middle-income trap, with the factors that drive economic growth having undergone significant changes, and domestic consumption playing a more important role in economic growth. It is necessary, at this point, to promote mass consumption by expanding the middle-income group. The present paper puts forward the concept of the ＂double middle-income traps.＂ This refers to the situation in which an economy＇s per capita output stagnates and the size of the middle- income group is unable to expand for an extended period of time. These two factors are closely related. Based on data from the Chinese Social Survey conducted by the Institute of Sociology at the Chinese Academy of Social Sciences, the present paper analyzes the scale and development of middle-income groups, and the relationship among middle- income groups, the middle-class and middle-class identity. The marginal consumption propensities of middle-income groups are also considered. The findings of the paper indicate that the expansion of the middle-income group plays an important role in promoting mass consumption, maintaining continuous and stable economic growth, and overcoming the double middle-income traps.
基金the Major Project of the National Social Science Fund of China,“Study on the Implementation of the New Concept of Development and the Modernization of National Governance”(Grant No.:17VZL002)the Youth Project“Quantitative Identification,Early Risk Warning and Countermeasures against the Middle Income Trap under the New Normal”(Grant No.:16CJL015)
文摘The internal consumption and production structure of the service industry that now dominates the Chinese economy needs to be optimized.Introducing supply-side structural reform to improve the in-depth integration of advanced manufacturing and the modern service industry and promoting a strong domestic market is the key to escaping the middle income trap.We use 1950-2010 data from 45 non-oil-exporting economies representing the structural evolution of the service industry worldwide to compare Asian economies that have passed through the middle income trap with Latin American counterparts that remain stuck in the trap,and thence proceed to construct a matched model that covers the consumption and production service industries and their supply of human capital,with the aim of identifying the formative mechanisms and conditions for escaping the middle income trap through upgrading the structure of the service industry.Substantially developing the production service sector,raising the supply of public services so as to cultivate the quantity and quality of human capital,and matching senior-level human capital with knowledge-intensive serviceindustries will propel the upgrading and transformation of China’s economic structure toward high-quality development.
